Kögel, one of Europe's largest trailer manufacturers, has filed for insolvency. Citing 'drastic market distortions', the company says that revenues have dropped by more than 90 per cent in some areas of the European transport industry. This has lead to the company expecting sales of just 1500 - 2000 trailers this year, and revenues of €50m ($72m), against last year's unit sales of 24000 trailers, and revenues of €540m in the twelve months from July 2007 to July 2008.

   The company's sister operation, French trailer manufacturer Jean Cherau SAS is not believed to be affected by the bankruptcy, and it is understood that the insolvency practitioner - Wirtschaftsprüfer Geiwitz Arndt -  is looking for a means by which Kögel might continue to trade.